The file's text, extracted by GovTribe without its formatting.
ACCOUNTING SYSTEM QUESTIONNAIRE
Mark “x” in the appropriate column
Yes
No
N/A
1. Is your accounting system in accord with generally accepted accounting principles?
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2. Accounting System provides for:
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a. Proper segregation of direct costs from indirect costs.
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b. Identification and accumulation of direct costs by contract.
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c. A logical and consistent method for the allocation of indirect costs to intermediate and final cost objectives. (A contract is a final cost objective.)
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d. Accumulation of costs under general ledger control.
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e. A timekeeping system that identifies employees’ labor by intermediate or final cost objectives.
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f. A labor distribution system that charges direct and indirect labor to the appropriate cost objectives.
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g. Interim (at least monthly) determination of costs charged to a contract through routine posting of books of account.
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h. Exclusion from costs charged to government contracts of amounts which are not allowable in terms of Contract Cost principles and procedures, or other contract provisions.
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i. Identification of costs by contract line item and by units (as if each unit or line item were a separate contract) if required by the proposed contract.
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j. Segregation of preproduction costs from production costs.
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3. Accounting System provides financial information
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a. Required by contract clauses concerning limitation of cost or limitation of payments.
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b. Required to support requests for progress payments.
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4. Is the accounting system designed, and are the records maintained in such a manner that adequate, reliable data are developed for use in pricing follow-on acquisitions?
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5. Is the accounting system currently in full operation?
(If not, describe below which portions are (1) in operation, (2) set up, but not yet in operation, (3) anticipated, or (4) nonexistent.)
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Updated .
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